Producer resumption to weigh on manganese prices in short term

SHANGHAI, Feb 26 (SMM) – The manganese market in China held steady on Tuesday February 26, with SMM assessed prices of manganese in major production regions standing at 13,300-13,500 yuan/mt, unchanged from the previous day.

As manganese producers returned from holidays, buyers were inclined to take a wait-and-see stance. This is likely to weigh on manganese prices into the near term.

South Korean steelmaker Pohang Iron and Steel Company (POSCO) left its purchasing price of electrolytic manganese unchanged at around $1,930/mt cfr for the latest tender, which suggested short-term weakness in manganese prices.